Mr. Adrian Lamoureux reports

PAN AMERICAN ENERGY INITIATES WORK TOWARD MINERAL RESOURCE ESTIMATE FOR THE BIG MACK PROJECT

Pan American Energy Corp. has initiated work to prepare a mineral resource estimate for the company's Big Mack project in Ontario, Canada, in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects). The planned MRE is expected to be informed by, and structured around, the company's previously announced drilling results from the 2023 and 2024 drill programs, including the nine additional drill holes completed between November and December, 2024. The company intends to integrate the available drilling database into a modern 3-D geological interpretation and resource estimation block model, together with supporting data verification and review work customary for NI 43-101 mineral resource estimation. Upon completion of the MRE, Pan American plans to update its NI 43-101 technical disclosure for the Big Mack project to incorporate the new work, including updated figures, maps, sections and tables, as applicable.

Adrian Lamoureux, chief executive officer of Pan American Energy, stated: "Advancing Big Mack to a mineral resource estimate is the next step in establishing a stronger technical foundation for the project. The company believes the drilling completed to date provides a foundational data set to support this next stage of technical work."

Qualified person

The scientific and technical content of this news release has been reviewed, verified and approved by Jared Suchan, PhD, PGeo, technical adviser to the company, a qualified person as defined by National Instrument 43-101.

For a discussion of the company's quality assurance/quality control and data verification procedures and processes, please see its most recently filed technical report under the company's profile at SEDAR+.

Cautionary note regarding mineral resources

Mineral resources are not mineral reserves and do not have demonstrated economic viability. The estimate of mineral resources, if completed, will be subject to the assumptions and methods used to prepare the estimate, and may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues.

About Pan American Energy Corp.

Pan American Energy is an exploration-stage company engaged principally in the acquisition, exploration and development of mineral properties containing battery and critical metals in North America.

The company has executed an option agreement in Canada with Magabra Resources pursuant to which it has acquired a 75-per-cent interest in the Big Mack lithium project, 80 kilometres north of Kenora, Ont., with the right to earn an additional 15 per cent for a total 90-per-cent interest. Pan American has also entered into an option agreement with Northern Critical Minerals Corp. to acquire an up-to-100-per-cent interest in the Tharsis rare earth element project, located in the Northwest Territories. The project hosts the Squalus Lake alkaline complex, a Proterozoic-age carbonatite-bearing intrusion prospective for rare earth and high field strength elements.

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